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Sipchem and Helm Arabia Sign Joint Venture Agreements for Acetyl Projects

Source: www.gulfoilandgas.com 6/6/2005, Location: Middle East

Saudi International Petrochemical Company (Sipchem) and Helm Arabia jointly announced that they have signed in Riyadh, Saudi Arabia, Joint Venture Agreements for establishing a 460,000 tons per year Acetic Acid and a 300,000 tons per year Vinyl Acetate Monomer (VAM) projects in Al-Jubail Industrial City, Saudi Arabia. By signing these agreements Sipchem has taken significant step towards its plan to establish a world-scale acetyls complex in the Kingdom of Saudi Arabia. The acetyl complex is expected to start-up in 2008. Sipchem has announced earlier signing all licensing and technologies agreements for the projects with Eastman Chemical Company and E. I. DU PONT DE nemours and company.

H.E. Abdulaziz A. Al-Zamil, Sipchem’s Chairman stated that the plan to establish acetyl complex is a step in the right direction of Sipchem’s endeavour towards establishing world class petrochemical complex which is the first of its kind and size in the region. He added “Sipchem is committed in its obligations to the Kingdom by bringing new technologies, foreign investments and creating job opportunities”.

Helm Arabia has also signed Marketing and Offtake agreements for the long term offtake of both Acetic Acid and VAM for sale and distribution globally outside the Middle East markets. Sipchem will market the products in the Middle East. Mr. Dieter Schnabel, Helm AG Chairman, indicated that “Helm is pleased to participate in a large Petrochemical Complex in Al-Jubail, Saudi Arabia. These projects will complement the strength of Helm in the petrochemical and chemical marketing”. He added “Investing in Saudi Arabia will facilitate sourcing competitive products thus giving Helm a competitive edge in providing Acetic Acid and VAM to its customers worldwide”

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Related Articles: Abrasives  Agents, Anti-foaming  Caustic soda  Chemicals  Chlorine Liquid  Corrosion Inhibiting  Fertilizers  Fluids/Chemicals  General  Industrial & Laboratory  Industrial gas, Hydrogen  Industrial gas, Nitrogen  Industrial gas, Oxygen  Sodium Hypochloride  Water Treating 


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